of the question 10 marks (paper 2) 20 minutes on it Explain the law of diminishing returns using average and marginal product curves Definition Law of diminishing returns refer to how the marginal production of a factor of production starts to progressively decrease as the factor is increased‚ in contrast to the increase that would otherwise be normally expected. Triple A Law of diminishing returns – as more and more of a variable factor is added to a fixed factor‚ output will rise initially
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Question 1: The tragedy of the commons a) Using the example of a problem of the global commons outline the “tragedy of the commons” and explain its causes. In order to aptly outline the “tragedy of the commons” using an example of a problem of the global commons‚ it is essential to first put in context what both terms mean and how they relate to each other. The “tragedy of the commons” is a type of market failure under the banner of property rights that is described as ‘an economic problem in
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tax returns overseas‚ outsourcing‚ raises many significant ethical issues. Reports of the scope and size of the outsourcing market vary greatly‚ but the largest outsourcing companies claim that thousands of returns were processed during the 2006 tax season. Estimates for the 2007 season indicate the total may now be well into the hundreds of thousands. Outsource Partners International (OPI) reports preparing 10‚000 U.S. tax returns last year. SurePrep claims to have processed 6‚000 returns last
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Tax Return Worksheet Directions Review Gloria Ramsay’s tax return. Answer the following questions based on the information listed in her return. 1. Even though Gloria is single‚ her filing status is Head of Household. Why is Gloria able to file as head of household? Gloria is able to file head of house hold in this case because‚ she has a qualifying dependent. A qualifying dependent would be a closely related relative dependent that you have provided for maintaining a home for yourself
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English 1302 October 11‚ 2012 Departure‚ Initiation‚ and Return in Jorge Luis Borges’ “The Garden of Forking Paths” At first glance‚ Jorge Luis Borges’ short story‚ “The Garden of Forking Paths‚” tells the tale of a Chinese agent for the Germans against the English during the first World War. In this short story‚ Yu Tsun (the spy) learns that a fellow agent has been eliminated. This means that he will undoubtedly be the next to be arrested and killed. This will probably happen before
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for her love for Wildeve is her fanciful dreaming and her yearning for love "as one in a desert would be grateful for brackish water" and it is said that for her‚ in terms of love‚ there is "no middle distance in her perspective". This also displays her wilfulness to be loved‚ and she shows strong will once again with her exchange with Venn in Chapter 10; when he tries to persuade her to give Wildeve up she answers defiantly "[I] will never give him up!" With the talk of Clym ’s return
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Imagine being in love with someone so deeply that you want to spend the rest of your life with that person‚ and ask for his or her hand in marriage. But you aren’t able to because you and your lover are of same sex‚ and live in a state like Texas where gay marriage is prohibited. There is a loophole though‚ you do have the option of traveling one thousand miles to the closest state that allows you to wed. Initially‚ some people may think that’s okay‚ it’s just another adventure in your life right
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The law of diminishing returns only applies in the Short Run‚ when only one factor of production is variable and can be increased. The other factors of production are fixed. Thus as the variable factor of production is increased the marginal product of that factor will rise at first‚ but will at some point begin to fall. Returns to scale can only occur when no factors of production are fixed. If the quantities of all of the factors of production are increased‚ then output will also increase. However
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What is Love? “I’m not supposed to love you‚ I’m not supposed to care‚ I’m not supposed to live my life wishing you were there. I’m not supposed to wonder where you are or what you do...I’m sorry I can’t help myself‚ I’m in love with you.” (Quote from Lord Byron) What is love? Scientists would simply call it a magnificent chemical war inside the brain causing us to feel the way we do about another person. Famous poets Lord Byron and Shelley would argue that it is beauty that makes us feel love
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In A Midsummer Night’s Dream by William Shakespeare‚ Shakespeare explores the theme of love through character and plot development‚ usage of literary devices as well as usage of socio-historical context. He follows literary traditions‚ but also develops his own style. Shakespeare introduces his theme of unstable love relationships in the first Act and uses the elements of literature to further develop his theme. The play opens up with the planning of the wedding of Thesus (Duke of Athens) and Hippolyta
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